Waaree Energies Ltd is a mid-cap company that is involved in the business of manufacturing solar photovoltaic (PV) modules and is also a leading player in the business. Waaree Energies’ share price target for 2024, 2025, and 2026 may give good returns for long-term investors as the Indian solar energy market is likely to reach nearly USD 24.9 billion by 2030 which was USD 10.4 in 2003.
If you invested or planning to invest in the stock, this post may help you to gain some more information about the stock and company. As for a newly listed stock, it is hard to find information like quarterly P&L, P&L, Financials, business model, products & services, etc.
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About Waaree Energies Ltd
Waaree Energies Ltd. is a mid-cap company founded in 1990. It sells capital goods and electrical equipment. As of June 30, it is the largest manufacturer of solar PV modules, with a capacity of 12 GW. The company supplies or sells its products in more than 20+ countries and a 3 GW manufacturing unit is under construction in the US.
Solar PV Modules are used in the making of solar panels which are made from silicon. These modules convert the sunlight into electricity. There are various types of solar PV Modules like Thin-Flim, Polycrystalline, and monocrystalline.
Waaree Energies Ltd offers two products i.e. Solar PV Module and Invertor. In Inverters, they have On-Grid Inverters and Off-Grid inverters. On-Grid Inverter, they have a single-phase inverter 1kW/2kW with a power of 250KW, and its warranty is 10 years. Off-grid inverter (325 VA – 10000 VA Home, Commercial PCU & Performance Range) with a power of 4KW – 20 KW, 10-year warranty, and 98% efficiency.
The company also offers many services and solutions like Turnkey EPC Services, O&M (Operation & Maintenance), Project Development, Rooftop Solar Solutions, Floating Solar Solutions, Energy Audits and Consulting, and many more.
The company’s revenue was 78% from Solar PV Modules, 15% from Solar EPC Services, and 7% from Energy Storage Systems and other sources.
Waaree Energies Ltd’s Scrip Info
| NSE | WAAREEENER |
| BSE | 544277 |
| ISIN | INE377N01017 |
| SECTOR | CAPITAL GOODS – ELECTRICAL EQUIPMENT |
Company Analysis
Below, you’ll find information about Waaree Energies Limited, including financials, fundamentals, and shareholding patterns. This information is important in identifying good companies for investing.
Note: The shared information is not enough for a complete analysis of any company or stock. Kindly cross-check this information with any screener or broker.
Note: All the values are in (₹) Rupees Crore.
| Quarter | Net Profit & Loss |
|---|---|
| Sep 2023 | ₹ |
| Dec 2023 | ₹ |
| Mar 2024 | ₹ |
| Jun 2024 | ₹401 |
| Sep 2024 | ₹ |
| Year | Net Profit & Loss |
|---|---|
| Mar 2020 | ₹39 |
| Mar 2021 | ₹48 |
| Mar 2022 | ₹80 |
| Mar 2023 | ₹500 |
| Mar 2024 | ₹1,274 |
Note: It is the company’s financial performance data, typically released every three months (quarterly) or once a year (annually).
| Market Cap | ₹NA | ROE | 0.00% |
| P/E Ratio (TTM) | 0.00 | EPS (TTM) | 62.76 |
| P/B Ratio | 0.00 | Div. Yield | 0.00% |
| Industry PE | 93.18 | Book Value | 204.02 |
| Debt to Equity | 0.11 | Face Value | 10 |
| Held By | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|
| FIIs | NA | NA | NA | NA | NA |
| DIIs | NA | NA | NA | NA | NA |
| Public | NA | NA | NA | NA | NA |
| Promoters | NA | NA | NA | NA | NA |
| Other Holders | NA | NA | NA | NA | NA |
Key Insights
- Zero promoter pledge.
- Low debt on the company.
- The company has cash of Rs. 3,615.99 Crore.
- The company is making profits consistently.
- On the company, the debt is nearly Rs. 276 Crore.
- Recently, the company has reduced its debt by Rs. 505.25 Crore.
- Waaree Energies Ltd’s compounded sales growth of 3 years is 80%.
- Waaree Energies Ltd’s compounded profit growth is 181% over the last 3 years.
Waaree Energies Share Price Target
Waaree Energies Ltd is the largest player in the manufacturing of solar PV modules. It means the company’s growth is also dependent on the solar power sector growth, as the solar power sector will grow the stock is also likely to give more returns to the investors. It indicates it is easy to make good returns from the Waaree Energies share price target for 2024, 2025, and 2026.
As per the business model, nothing looks wrong as it is engaged in a highly demanding product i.e. Solar PV Modules and many related services. In the upcoming years, the demand for these services and products is likely to increase very rapidly.
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2024 | ₹2450 | ₹2600 |
| 2025 | ₹2700 | ₹3000 |
| 2026 | ₹3500 | ₹4000 |
Disclaimer: AskDhan or we are not SEBI registered, and this is not a Buying or Selling recommendation. We will not be responsible for any loss or profit. This post is only for educational and learning purposes. All the targets given in the post are based on news, brokerage research, technical analysis, etc. We strongly recommend you talk to your financial advisor before making any decision.
Waaree Energies Share Price Target 2024
Waaree Energies Ltd’s IPO price range was set to Rs. 1427 to Rs. 1503. On the listing day, i.e. 28 Oct 2024, the stock listed in the market at nearly 66% listing gains and later slipped by 9% because of profit booking.
This type of massive gain in the stock was expected as mentioned in the upcoming few years the industry is going to give a massive return. Also, it was the largest Solar PV Module manufacturer in India.
In the short term, the stock is bullish but let the stock price cool down as massive profit booking can happen in the stock as it is listed at a very high premium.
Waaree Energies Share Price Target 2025 and 2026
No Doubt, for the long term the Waare Energies share price target is going to give massive returns to the investors. There are dozens of reasons to invest in the stock but with some rules and planning to get good returns and avoid huge loss during the profit booking or bad scenario in the stock, sector, or related to the sector.
Some major reasons are zero promoter pledge, low debt on the company, the largest manufacturer of Solar PV Modules, providing many high-growth products and services, investing a lot of money to expand the business, annual profits increasing rapidly, and many more.
In Waaree Energies Ltd’s IPO, the company raised approximately Rs. 4321.44 Crore for general corporate purposes, solar cell, and solar PV module manufacturing unit, establishing 6GW of Ingot Wafer, etc. If the company invests in the businesses it will be tough for the other players to compete.
Waaree Energies’ share price target for 2025 and 2026 is likely near Rs. 3500 – 4000. India’s solar energy sector is likely to grow at 13.4% CAGR and its market size can reach USD 24.9 billion by 2030 and it was measured USD 10.4 billion in 2023.
FAQs
Yes, it is good for the long-term investing purpose. There are dozens of reasons to invest in the stock for the long term like the largest Solar PV Module manufacturer in India, Zero promoter pledge, low debt on the company, massive growth in the solar sector in the upcoming few years, and many other services, exports outside India, and many more.
By the fundamentals and financials, the company is good for investing purposes but currently, the stock is very expensive i.e. trading at a high premium. Investing in any company at a discounted price can generate a better return for you.
In 2025, most likely the Waaree Energies Ltd share price target can be near Rs. 3000 as the government is very serious about renewable energy.
Solar energy is one of the major ways to generate renewable energy. As you know, Solar PV Modules are required to generate electricity.
Except this, the Waaree Energies Ltd stock price also depends on the news, profit & loss, sales, industry growth, etc, in 2025.
Waaree Energies Ltd offers various products and services it offers to its customers-
Products:
Solar PV Modules
Inverter
Services and Solutions:
Turnkey EPC Services, O&M (Operation & Maintenance), Project Development, Rooftop Solar Solutions, Floating Solar Solutions, Energy Audits and Consulting, and many more.
Final Words
Waaree Energies Ltd is a mid-cap capital goods – electrical equipment company. The company primarily engaged in the business of Solar PV modules, and inverters, and also provides many other services. The financials, fundamentals, and business of the company look strong so, you can expect a high Waaree Energies share price target for 2024, 2025, and 2026 if invested at a good price and strategy.